Prior semi-automatic pneumatic feeders for advancing strip stock into the work station of a punch press have been relatively expensive and have required relatively complex apparatus and procedures for interfacing the feeder with the press. For example, the press itself has in some instances been modified by the installation of a rotary feeder control cam that is adapted to be rotatably driven by the main crankshaft of the press so that the feeder valves and associated control circuits may be synchronized with the operation of the press. This type of interfacing is expensive and is relatively cumbersome in terms of set-up time and timing adjustment. Furthermore, these known types of semi-automatic pneumatic feeders may each utilize several control valves that are serially operated during each feeder cycle, and this serial action tends to cause the feeder to be slower in effective speed.